Momo (MOMO) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Momo (NASDAQ:MOMO) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other research analysts also recently issued reports on the company. Morgan Stanley started coverage on Momo in a research note on Wednesday, March 28th. They set a buy rating and a $51.00 price target on the stock. UBS Group upgraded Momo from a neutral rating to a buy rating and set a $60.00 price target on the stock in a research note on Thursday, May 31st. Citigroup started coverage on Momo in a research note on Tuesday, February 20th. They set a buy rating and a $40.00 price target on the stock. Bank of America raised their price target on Momo from $42.00 to $46.00 and gave the stock a buy rating in a research note on Monday, March 19th. Finally, Zacks Investment Research upgraded Momo from a hold rating to a strong-buy rating and set a $45.00 price target on the stock in a research note on Wednesday, March 28th. Sixteen equities research analysts have rated the stock with a buy rating, Momo currently has a consensus rating of Buy and an average target price of $49.91.

Momo opened at $53.23 on Wednesday, MarketBeat Ratings reports. The company has a market cap of $10.53 billion, a P/E ratio of 34.79, a PEG ratio of 1.04 and a beta of 1.67. Momo has a 52-week low of $22.49 and a 52-week high of $54.24.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 29th. The information services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $435.10 million for the quarter, compared to the consensus estimate of $398.28 million. Momo had a return on equity of 37.07% and a net margin of 24.68%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. analysts expect that Momo will post 2.32 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Resources Investment Advisors Inc. acquired a new stake in Momo during the 1st quarter worth approximately $157,000. Castleark Management LLC acquired a new stake in Momo during the 4th quarter worth approximately $144,000. ING Groep NV acquired a new stake in Momo during the 1st quarter worth approximately $224,000. Anchor Capital Advisors LLC acquired a new stake in Momo during the 1st quarter worth approximately $263,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in Momo during the 1st quarter worth approximately $271,000. 45.84% of the stock is owned by institutional investors.

Momo Company Profile

Momo Inc operates as a mobile-based social networking platform in the People's Republic of China. The company's platform includes its Momo mobile application and various related features, functionalities, tools, and services that are provided to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations and interests; and Hani, a live video application.

Analyst Recommendations for Momo (NASDAQ:MOMO)

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